Proceeds used for preclinical and clinical development of candidates
By Devika Patel
Knoxville, Tenn., Oct. 4 - Regulus Therapeutics Inc. said it priced its $45 million initial public offering of stock with a $6.75 million greenshoe. It expects the shares to trade on the Nasdaq under the symbol "RGLS." The deal was announced Aug. 17.
The company will sell 11.25 million common shares at $4.00 per share.
Lazard Capital Markets, Cowen and Co. and BMO Capital Markets are the joint bookrunning managers.
Proceeds will be used for the preclinical and clinical development of the company's initial microRNA development candidates, the identification and validation of additional microRNA targets and other general corporate purposes.
The biopharmaceutical company is based in La Jolla, Calif.
| Issuer: | Regulus Therapeutics Inc.
|
| Issue: | Common stock
|
| Amount: | $45 million
|
| Greenshoe: | $6.75 million
|
| Shares: | 11.25 million
|
| Price: | $4.00
|
| Warrants: | No
|
| Bookrunners: | Lazard Capital Markets, Cowen and Co. and BMO Capital Markets
|
| Co-managers: | Needham & Co. and Wedbush PacGrow Life Sciences
|
| Announcement date: | Aug. 17
|
| Pricing date: | Oct. 4
|
| Stock exchange: | Nasdaq: RGLS
|
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